Before COVID-19 took hold, Carson City had fastest February metro job growth in Nevada
Submitted by Jeff Munson on Tue, 03/31/2020 - 11:37am
Carson City experienced both the fastest job growth rate in February and the highest unemployment rate among the state's three metropolitan areas, according to a report released Tuesday by the Nevada Department of Employment, Training and Rehabilitation.
Nevada’s Metropolitan Statistical Areas all showed growth when compared to last year. Carson City had the fastest growth rate of 1.9 percent. The Reno MSA added jobs at the rate of 1.8 percent during the same period, while Las Vegas at grew 1.3 percent.
The percentage changes represent an increase of 600 jobs in Carson City, 4,400 jobs in Reno, 13,500 jobs in Las Vegas all compared to February 2019. The changes are seasonally adjusted to show underlying trends in employment, according to the report.
The February 2020 economic report says statewide jobs increased by 1.3 percent, a gain of 18,300 new jobs since February of last year. This marks the first time since July 2012 that Nevada has grown at a slower rate than the national average.
February’s unemployment rates showed decreases compared to the same time last year in all but three the areas published by this office. The exceptions were Eureka County, which remained constant, and Humboldt and Lander Counties, which increased by 0.1 percentage point from the previous year.
Unemployment rates in the metro areas were 4.1 in Carson City, 3.2 percent in Reno, 3.9 percent in Las Vegas.
“This month’s report shows that in February, Nevada’s unemployment rate remained low, and employment in Nevada was still rising, though at a slowing pace," said David Schmidt, Chief Economist for DETR. "With the rapidly changing economic outlook since then, these measures describe the state of the economy as we entered March. As the situation continues to change, we are monitoring unemployment insurance activity, and will continue to post information to our website, NevadaWorkforce.com.”
Additional February 2020 Economic Report Highlights:
Job Growth (Seasonally Adjusted):
— Carson City decreased 200 jobs over the month and is up 600 jobs over the year (1.9 percent).
— Reno added 200 jobs over the month and 4,400 over the year (1.8 percent).
— Las Vegas is down 1,300 jobs over the month and is up 13,500 over the year (1.3 percent).
Unemployment (Not Seasonally Adjusted):
— Carson City: 4.1 percent, unchanged from January, and down 0.6 percentage point from a year ago.
— Reno: 3.2 percent; down 0.2 percentage point from January, down 0.5 percentage point from last year.
— Las Vegas: 3.9 percent; unchanged from January, and down 0.3 percentage point from last year
Eureka county has the states lowest unemployment rate, at 2.4 percent, while Lyon county had the highest at 5.0 percent.
On a city level, all published cities experienced decreases in unemployment when compared to February 2019.
When compared to January 2020 all cities experienced decreases in unemployment, except Henderson and Fernley which remained constant.
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